FedEx Corporation $FDX Shares Bought by Kestra Investment Management LLC

Kestra Investment Management LLC lifted its holdings in shares of FedEx Corporation (NYSE:FDX) by 14.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,439 shares of the shipping service provider’s stock after buying an additional 2,488 shares during the quarter. Kestra Investment Management LLC’s holdings in FedEx were worth $5,542,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new position in shares of FedEx in the 2nd quarter worth $6,508,103,000. Primecap Management Co. CA bought a new stake in FedEx in the second quarter valued at about $2,554,138,000. Dimensional Fund Advisors LP increased its holdings in FedEx by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,630,669 shares of the shipping service provider’s stock valued at $936,688,000 after purchasing an additional 52,963 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in FedEx by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 2,134,672 shares of the shipping service provider’s stock valued at $760,328,000 after buying an additional 125,950 shares during the period. Finally, Bank of America Corp DE acquired a new position in FedEx in the second quarter valued at about $579,171,000. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Gina Adams sold 3,014 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $317.06, for a total value of $955,618.84. Following the completion of the transaction, the executive vice president owned 9,656 shares in the company, valued at $3,061,531.36. This represents a 23.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tracy Brightman sold 26,611 shares of the stock in a transaction on Friday, October 30th. The stock was sold at an average price of $316.68, for a total transaction of $8,427,171.48. Following the sale, the executive vice president directly owned 12,245 shares of the company’s stock, valued at $3,877,746.60. This represents a 68.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on FDX shares. HSBC upgraded FedEx from a “hold” rating to a “buy” rating and set a $370.00 target price on the stock in a report on Thursday, October 29th. JPMorgan Chase & Co. upped their price target on FedEx from $399.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Bank of America cut their price target on shares of FedEx from $378.00 to $359.00 and set a “buy” rating on the stock in a research report on Tuesday, October 27th. Citigroup increased their price target on shares of FedEx from $373.00 to $374.00 and gave the company a “buy” rating in a research report on Monday, November 2nd. Finally, UBS Group reissued a “hold” rating on shares of FedEx in a research note on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average target price of $359.16.

FedEx Price Performance

FDX opened at $318.72 on Tuesday. The stock has a market cap of $74.64 billion, a P/E ratio of 19.60, a P/E/G ratio of 1.33 and a beta of 1.27. FedEx Corporation has a 12 month low of $202.95 and a 12 month high of $345.36. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $302.64 and a 200 day simple moving average of $337.42.

FedEx (NYSE:FDX) last posted its earnings results on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.40. The firm had revenue of $22.93 billion for the quarter, compared to analyst estimates of $22.73 billion. FedEx had a return on equity of 15.53% and a net margin of 4.09%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.83 earnings per share. On average, research analysts expect that FedEx Corporation will post 18.29 EPS for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, September 14th. FedEx’s dividend payout ratio (DPR) is 30.01%.

About FedEx

FedEx Corporation is a global transportation and logistics company that provides delivery, freight, and supply chain services to businesses and consumers. Its offerings include express and ground package delivery, freight transportation, customs clearance, and logistics solutions that help customers manage shipping and distribution.

Founded by Frederick W. Smith in 1971, FedEx began operations in 1973. The company serves customers throughout the United States and in international markets, connecting businesses and consumers through its transportation and delivery networks.

FedEx is headquartered in Memphis, Tennessee.